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In certain situations, it may not be necessary for a company to prepare a prospectus to raise capital. Where appropriate, a company can rely on an exemption from the prospectus requirements, financing through what is called a private placement. The majority of financing carried out in the Alberta market is through private placements. Read more about commonly used exemptions.
A report of exempt distribution must be filed within 10 days of the trade. A set of conditions called "resale rules" apply to private placements, which can include a hold period on the securities.
Note: In September 2005, Form 45-103F4 was replaced by Form 45-106F1 - Report of Exempt Distribution. (In June 2003, Form 45-103F4 replaced Form 20).
The ASC website is updated every Friday afternoon to reflect any Exempt Financing transactions filed and processed with us. Our expected processing time is 10 business days. During the update, full searching abilities may not be available.
Certain information regarding exempt financing applications is available to the public upon request. To request information, click here.
For exemptions reported and processed by the ASC, please visit our Exempt Market Dashboard.